Just now, eight ministries, including the People's Bank of China, issued a new notice, replacing the original notice issued in 2021. The main differences are: 1. RWA, which has been touted as "compliant" in recent years, is now explicitly prohibited. 2. Domestic entities issuing tokens overseas based on domestic assets must register with the China Securities Regulatory Commission (CSRC) to prevent asset outflow. 3. Strengthening "local implementation," ensuring that cases in the province where they originate are handled by that province, reducing cross-provincial enforcement for profit.